Spring Consumer Survey Report

Posted by Richard Kitts on Thu, Jul 20, 2017 @09:00 AM

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Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Tags: Canada, consumer debt, mortgage, Canadian economy, economy, homebuyer, will dunning

Bank of Canada raises interest rate for 1st time in 7 years to 0.75%

Posted by Richard Kitts on Wed, Jul 12, 2017 @04:37 PM

The Bank of Canada Rates increased by the anticipated ¼%. With Bond markets increasing, you may also see pressure on the longer term fixed rates to rise again. 

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Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Tags: The Mortgage Centre KW, Bank of Canada, The Mortgage Centre, fixed rate, Mortgage Rates, Key interest rate, Overnight rate, Increased rate

Above expectations for June job numbers and Bank of Canada Rate expected to rise 0.5%.

Posted by Richard Kitts on Fri, Jul 07, 2017 @01:15 PM

This is excellent news for Canada’s economy and rates may continue to rise.  The variable rate mortgages will be affected by any rise in Bank of Canada’s prime.  While the 5 year fixed could also rise, it is affected more by the Bond Market, which has also increased over the past month in anticipation of a rate hike.  Historically 5 year fixed rates were at 3.09% in October 2014, comparable to today’s pricing. 

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Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Tags: Bank of Canada, Canada's economy, fixed rate, Variable rate, fixed mortgage, rate hike, variable mortgage, lock in rate

Canada 150

Posted by Richard Kitts on Fri, Jun 30, 2017 @04:45 PM

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Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Tags: Canada, The Mortgage Centre KW, The Mortgage Centre, Canada Day, Canada 150

Increasing need and demand for reverse mortgages in Canada

Posted by Richard Kitts on Fri, Jun 30, 2017 @02:57 PM
Accessing equity in your home can be a smart solution! For those 55 and over, the soaring home equity we are seeing these days, helps sell reverse mortgages as a solution.  With a reverse mortgage you're able to borrow up to 55% of the equity in your home, with a fairly low interest rate and no monthly payment.  If you want more information please contact us at The Mortgage Centre KW today. 519-743-4365.  Also, read more here >>
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Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Tags: mortgage broker, The Mortgage Centre, Retirement, mortgage, reverse mortgage

Bank of Canada rate may be rising ...

Posted by Richard Kitts on Thu, Jun 29, 2017 @04:53 PM

We have seen this happen before, only to find out that some of the economic indicators did not come to fruition. 

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Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Tags: stephen poloz, Bank of Canada, mortgage kw, mortgage centre kw, bank of canada rate, mortgage freedom fighter

Credit Union employees feel the same pressure as bank employees to meet high sales targets

Posted by Richard Kitts on Wed, Jun 14, 2017 @08:00 AM

Credit union employees are going public that they are feeling the same demand for high sales targets as the big bank employees.  They say the high pressure sales targets are turning their "members" into "marks" and they have stopped working for their members in order to make a sale.  Read more here >>

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Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Tags: Credit-Union, Credit-Unions, finance, mortgage, big bank, big banks, financial product

Canada adds 55,000 jobs in May, more than triple expectations.

Posted by Richard Kitts on Tue, Jun 13, 2017 @03:27 PM

Some economists were expecting around 15,000 jobs to be added in May, but Canada more than trippled that expectation by adding 55,000.  Most of these jobs were added in Ontario, Quebec and British Columbia in the manufacturing and health care sectors.  Read more here >>

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Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Tags: finance, unemployment rate, Canada's economy, Jobs, unemployment, manufacturing

Cambridge house prices up almost 30% year-over-year

Posted by Richard Kitts on Mon, Jun 05, 2017 @09:38 AM

In Cambridge, May 2017 had more home sales than in May 2016,  with nearly 30% increase in sales and prices.  There may be some relief to the supply side coming as there has been an increase in listings.

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Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Tags: Cambridge, Kitchener, Waterloo, real estate, listings

Canada's Economy is Doing Better Than You Think...

Posted by Richard Kitts on Sat, Jun 03, 2017 @09:00 AM

Unemployment rate has dropped, the housing markets in Toronto and Vancover have cooled, manufacturing is picking up, oil has stabilized and business investment is up.

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Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Tags: Canadian economy